Strategy and Governance - Strategy Implementation

Question 1

What is the comparison for strategy formulation and implementation?

Answer 1

• For the strategy to be successful, executing is very important

Strategy Implementation - Focuses on resources to execute the strategic goals, operation process motivation, and leadership
- Include corporate level co-ordination and organizational structure for business and functional level efforts

Question 2

Provide the 3 organizational alignments that are needed

Answer 2

Organizational alignment - a framework for establishing the organization’s decision-making process and accountability structure

Three aspect
1. People - Assemble a competent management team and implementation skills to ensure the strategy is executed
2. Capabilities - Assets (tangible/intangible) competencies, processes, skills, or knowledge that are controlled by organizational needs
3. Structure - Need to support the desired work effort that links back to the strategic objective. Is the formal and informal arrangement of tasks,

Question 3

What are the two strategic objectives using people, capabilities, and structure

Answer 3

Self-reliance - To create new revenue streams, management needs to be innovative. Open an event center
- Skills managers needed to run the event center
- Employees of the event center report directly to managers and with a division structure in place

Pursurve culture

Question 4

Explain how organization manage their internal operation needed

Answer 4

1. Resource allocation - There can be too much waste in resources, and links between financial and manager can’t be given additional funding
2. Policies/ Procedures - Are designed, implemented, and maintained to address risks that is threaten the achievement
3. Information technology is Key to successfully implementing the strategic plan. Properly align information used to capture an manipulate data to create information that is system will capture metrics

Question 5

Explain the organizational culture and leadership

Answer 5

Organizational culture - An informal set of values, behavior, and traditions that determine how managers’ and employees’ interest
The tone of the organizational leadership - Employees not only take cues for behavior from the organization
Human resource policies - Include compensation and benefits, hiring, and performance evaluation, training and development
Management union relationship - To move strategic plans forward in a unionized environment, good working relationship and trust must exist between management and unions

Question 6

How is change management used for strategy implementation

Answer 6

• Implementing strategy is an ongoing process that must be responsible for change
• Can be challenging to make a significant shift in strategic direction
• Can be easier to implement change when organization is well established
  Ex. Motorola did not innovate their cell phone which it got outdated by Apple and Samsung,

Question 7

What critical elements are to be done in change management for the implementation

Answer 7

1. Planning - Revise mission, vision, and values and formulate new strategies at corporate
2. Communication - Must communicate the need for change and change in itself
   - How quickly employees accept change, need faith
3. Involvement - Everyone should be involved in change. Key employees have suggestions for improved efficiencies and understand the retain processing effective and consideration